Oil prices are moving towards $100 per barrel after Yemen’s Iran-aligned Houthi rebels launched a major wave of attacks on southern Saudi Arabia, hitting civilian and energy facilities and raising fresh fears about global oil supplies.
The Houthi attacks on Saudi Arabia in 2026 injured at least 73 people, including women and children, according to Saudi authorities. Fires were reported at several energy facilities, while some operations were temporarily halted.
But the bigger concern for global markets is what happens if attacks on Saudi energy infrastructure continue.
Why the Jizan Attack Matters
The Saudi Aramco attack is particularly significant because the Jizan complex includes a refinery capable of processing about 400,000 barrels of crude oil per day.
The Houthis said they targeted Aramco facilities in Jizan and other southern cities, while Saudi authorities said civilian and economic sites were hit in Abha, Khamis Mushait, Jizan and Najran. The attacks caused fires and forced temporary interruptions at some energy facilities.
Saudi Arabia is the world’s largest oil exporter, meaning prolonged disruption to its energy infrastructure could quickly become a global market problem.
Oil Prices Are Already Reacting
The immediate market reaction has been sharp. Brent crude climbed towards $100 per barrel, reaching around $98.60, while US crude also rose. The move reflects growing fears that more attacks could disrupt production or transport at a time when the wider Middle East is already facing serious energy pressures.
This makes the Houthi attack on Saudi oil facilities more than another regional military development. Higher crude prices can increase the cost of petrol, diesel, transport and manufacturing, putting more pressure on consumers and businesses.
What Happens Next?
Saudi Arabia has promised a firm response, raising the possibility of further military escalation. The Houthis have also warned of wider operations inside Saudi territory.
That creates a difficult situation for the oil market. If the attacks remain limited, prices could settle once traders have a clearer picture of the damage. But repeated strikes against energy facilities could push prices significantly higher.
For now, the Middle East oil supply crisis is becoming harder for global markets to ignore. The approach towards $100 per barrel is a warning that another major disruption could quickly turn a regional conflict into a much wider economic problem.
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